Relinquishment Provisions Clause Samples

Relinquishment Provisions. The Sponsor hereby undertakes and agrees that up to 1,312,500 of the Founder’s Shares are subject to relinquishment by the Sponsor without compensation, depending on the extent to which the Over-Allotment Option is exercised, such that the pro-forma ownership of the Founder’s Shares following any exercise of the Over-Allotment Option, partially or in full, or if there is no exercise of the Over-Allotment Option, would represent 20% of the issued and outstanding shares of the Corporation (including all Class A Restricted Voting Shares underlying the Class A Restricted Voting Units and the Founder’s Shares, but assuming no exercise of Warrants);

Relinquishment Provisions. (a) Each of the Founders hereby undertakes and agrees that up to an aggregate of 450,000 of the Founders’ Shares (the “Over-Allotment Relinquishable Founders’ Shares”) are subject to relinquishment by the Founders, without compensation, depending on the extent to which the Over-Allotment Option is exercised, such that the Founders’ Shares outstanding after giving effect to the Offering and at the conclusion of the Over-Allotment Option Period, including any corresponding relinquishment of the Over-Allotment Relinquishable Founders’ Shares depending on the extent to which the Over-Allotment Option is exercised, will represent 20% of the issued and outstanding shares of the Corporation (including all Class A Restricted Voting Shares underlying the Class A Restricted Voting Units, and all Class B Shares, but assuming no exercise of the Warrants). (b) For greater certainty, any Class A Restricted Voting Shares purchased by the Founders will not be subject to the terms and conditions set out in this Relinquishment Agreement.

Relinquishment Provisions. (v) Reduction Factor Provisions; (vi) Force Majeure Provisions; (vii) Resumption Provisions; and